AT&T - Legacy S Bargaining Unit - incl Global Services (fka DataCom)

Entries by CWA 4340
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Today, AT&T announced a 3rd quarter surplus in the Narrowband Organization within the Premium Care group in the AT&T Entertainment Group. This surplus will affect employees represented by CWA Local 4340 in Brecksville, OH.

The majority of the employees to be affected by the AT&T announcement have met with management today, June 15, 2016 to review SIPP information.

Article 26 of the CWA contract with AT&T governs all AT&T surplus declarations. Please contact your Steward or the Union office with questions regarding Article 26. The Union will continue to release updates as there are updates.

As we continue to coordinate the planning needed to fully establish the Technical Field Services (TFS) organization, all SD&A Core Technicians (rural and metro) along with associated managers and a small number of Premises/Wire Technicians will move to TFS effective the first pay period starting on or after August 1, 2016.

The TFS organization will enable us to better meet our customer expectations of high levels of service – shorter provisioning intervals and maintenance. In addition, the focus of TFS will allow us to meet our goal of better execution by increasing teamwork and equipping our employees with the skills required in the future.

Effective immediately, we will begin the organization design planning process within SD&A to be effectively operational by August 1.

We still have a tremendous amount of work ahead of us and I encourage you to stay focused on what you do well everyday – delivering for our customers an effortless

AT&T is eliminating 1 Technical Specialist position in Infrastructure Management (IM) within the Cleveland FAA

Article 26 of the CWA contract with AT&T governs all AT&T surplus declarations. Please contact your Steward or the Union office with questions regarding Article 26. The Union will continue to release updates as there are updates.

Today corporate bond rates were published. The new corporate bond rates affect the value of AT&T lump sum pensions, which will change in the 2016 calendar year.

The US Congress authorized employers with defined benefit pensions to change the calculation formula for lump sums, phasing out the “GATT Rate” that had been used for many years, and replacing it with a new set of interest rates. The phase-out happened at AT&T over a four (4) year period from 2011 to 2014. The GATT rate is now gone – only the corporate bond rates are used.

As a general rule, higher interest rates lead to lower lump sum values. But changes in rates will affect each of you differently.

It is recommended that you discuss your pension and/or retirement options with a financial professional.